By Ronnie Driver of the Bank's Monetary Assessment and Strategy Division.
The Bank has for many years held regular discussions with major UK lenders and money market participants to discuss trends in credit markets. Earlier this year, the Bank began supplementing these discussions with a formal Credit Conditions Survey, similar to those already conducted by the US Federal Reserve, the Bank of Japan and the European Central Bank. The survey is intended to assess trends in the demand for, and the supply of credit, including terms and conditions. It covers both household and corporate lending markets. Although the concept of the survey predates the recent movements in financial markets, the first results of the survey, which will be published on 26 September, will provide a good opportunity to assess trends in credit conditions. This article introduces the survey.